$AMC Daily Pennant Conclusion and MACD ConvergenceWill we break-out or break-down?
Hoping for the break-out to the 90's. Lux Algo still holding strong on that Buy signal since January 25th @ $3.60 and MACD is converging next week.
Earnings shouldn't be great, but nobody is selling anyway. Bears have exhausted their sell off ladder attack from 2 weeks ago. Double Bottom last week played out fully without a hitch. MACD is converging next week. Maybe a fake-out break-down at earnings to the low $30's again?
With so much support on @ the $30's I think it would take institutions selling heavily to force the stock down and try to recapture some paper hands.
NYSE:AMC
Notselling
Quick thoughts on GameStopI am not in GameStop to make any money. I purchased some shares of GameStop to make a point. To be real, in the initial hype I did not think anything of it, but post the Lord of the Sith shutting off access to Retail from buying... I saw the rules of the game break. Totally unpresented. In all of these years trading I have never seen a company only enable selling of a company. In the markets long history, if a commenter is aware of this happening (I'm sure it has had to happen at least once?!) please inform the community along with what happened post that?
This is really an amazing time in history and this position is monitored with upmost risk mgmt where it was burnt money in my mind before I longed it. I'm not selling, those shares are already burnt in my eyes. I'll hold them forever just to make a point.
When there are documentaries of this, if this position burns up and gets nuked. That fire will do nothing but warm my heart. I'm not recommending longing GME for any gains. I am longing it because of just principal post the rules changing mid battle.